Year of the Tiger? Is Southern States Power a on going concern?
Electric Power Generation:
BAT formed a new subsidiary in 1998 to enter the electric power generation and uninterruptable power supply (UPS) markets with advanced technologies. Southern States Power Co. will maintain a competitive edge in the power generation business as a result of advanced engine technology, direct access to oil and gas supplies through an associated company, and extensive contacts with power generation markets through the management team. Low fuel costs, low equipment costs, high efficiency power generation and low overhead will insure high profit margins from electric sales.
One million dollars in funding has been secured for Phase 1 pilot plant activities and additional financing for expanding power plant capacities are being pursued. The deregulation of the electric power industry in California and New England offers tremendous opportunities for new power producers to enter into both low cost production and direct sale of electricity to industrial & commercial customers.
Southern States Power Co. will be using the new inexpensive fuel emulsification process "Green Fuel" to reduce the fuel cost of oil power generating equipment by approximately 20%. Southern States Power Co. will be placing fuel processing systems in power generation projects in appropriate sites.
Another dramatic change in the company over the last year is that “BAT” has now become a major Internet and media phenomenon. BAT has been very effective in getting information out on the Internet, over the wire and through the media. This has resulted in tremendous newspaper, TV and radio coverage of BAT including CNN, LA Times, LA Daily News, USA Today, Bloomberg's Financial, Wall Street Journal and numerous international print and TV stations. The financial radio show, Bloomberg's, had the fifth highest rating ever as a result of airing an interview with Joe LaStella.
The introduction of BAT via the Internet to the financial community through YAHOO and other services has provided a unique opportunity to educate the global community about BAT's technology portfolio and corporate activities. This has led to a tremendous increase in interest in the company, as evidenced by visits to our web site and general inquiries. BAT has developed an exciting web site that we are now updating regularly. If you can, please visit the site at <www.baat.com> . We are receiving “hits” at our web site from a diverse set of people from all over the world. In one 30 day period that we monitored activity, over 2,800 hits came from the US Government and military, 2,500-3,000 hits each from various countries including Sweden, Germany, UK, Amsterdam, Belgium, etc. We are regularly posted on various Internet services and organization bulletin boards including YAHOO, Society of Automotive Engineers, etc. This means news about BAT now reaches a very sophisticated group of interested parties from around the world almost instantly through the Internet. It has made our company very well known.
Increased public exposure and exciting technology development successes have dramatically increased the stockholder base of BAT. There are now over 10,000 stockholders. Most are very small stockholders, with 75% holding under 10,000 shares. BAT wants to welcome all of its new stockholders to the company. Your commitment through investment in BAT's environmental technologies will mean a cleaner world tomorrow. We are confident technology deployment and product distribution in 1998 will provide profits and monetary rewards for our stockholders as well.
1998 is the Year of the Tiger. We are ready to strike now with the cunning and swiftness of the Tiger to bring to market a whole new generation of super-efficient, super-clean transportation and energy products. We very much appreciate your investment in the company and look forward to continued progress in 1998 and a very successful year.
Sincerely,
Joe LaStella
President
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